Prime Minister Muhammad Shehbaz Sharif attended a high-level roundtable at COP-27 on the “Scaling up Action and Support on Losses and Damages – the Global Shield Against Climate Risks". The event was jointly hosted by German Chancellor, Olaf Scholz, and President of Ghana Nana Akufo-Addo on the significant topic of ‘Loss and Damage’ associated with Climate Change. The meeting was attended by a number of Heads of State and Government. The Prime Minister underscored that the vulnerable developing countries such as Pakistan were already witnessing unprecedented devastating impacts of climate change, even though they have contributed very little to it. He also briefed the participants on the situation in the flood-hit areas of Pakistan and the actions being taken by the Government for the reconstruction and rehabilitation of flood impacted areas. The Prime Minister also underlined that the issue of ‘Loss and Damage’ is one of the key priorities for Pakistan and welcomed its inclusion as an agenda item of COP-27. He highlighted that it was for the first time that the COP had agreed to formally discuss funding arrangements for Loss and Damage, achieved through persistent push by the developing countries under Pakistan’s chairmanship of Group of 77 and China. While appreciating the significance of the “Global Shield Against Climate Risks” initiative, the Prime Minister called for renewed international solidarity and cooperation to address the impacts of climate change. He underscored that the desired financing facility should serve as the primary vehicle to coordinate and mobilize financial resources to address loss and damage in the developing nations. The Prime Minister also stressed that COP-27 provided a very timely opportunity to take clear and decisive decisions in this regard.
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